Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

We have increased our fair value estimate for narrow-moat-rated Seek by 14% to AUD 16.00 per share, following a reassessment of the company's systematic risk rating--this effectively represents the sensitivity of earnings to the economy, which determines the cost of equity. In addition, we expect Seek to continue benefiting from structural trends in both domestic and overseas markets, regardless of the economy's performance.At the current market price of AUD 15.52, we believe the shares are slightly undervalued. Our new fair value estimate implies a fiscal 2017 price/earnings ratio of 32, well above the S&amp;P/ASX 200 P/E of around 16, but we forecast an EPS CAGR for Seek of 8.3% over the next decade, which should rapidly compress the PE multiple. Our fair value estimate also implies a fiscal 2017 dividend yield of 2.3%, or 3.3% including franking credits, which is not bad for a growth stock.Analyst: Gareth James

We have increased our fair value estimate for narrow-moat-rated Seek by 14% to AUD 16.00 per share, following a reassessment of the company's systematic risk rating--this effectively represents the sensitivity of earnings to the economy, which determines the cost of equity. In addition, we expect Seek to continue benefiting from structural trends in both domestic and overseas markets, regardless of the economy's performance.At the current market price of AUD 15.52, we believe the shares are slightly undervalued. Our new fair value estimate implies a fiscal 2017 price/earnings ratio of 32, well above the S&amp;P/ASX 200 P/E of around 16, but we forecast an EPS CAGR for Seek of 8.3% over the next decade, which should rapidly compress the PE multiple. Our fair value estimate also implies a fiscal 2017 dividend yield of 2.3%, or 3.3% including franking credits, which is not bad for a growth stock.Analyst: Gareth James

Seek's Fair Value Estimate Increased 14% to AUD 16.00 Following Good First-Half Result

Seek Ltd

Seek's Fair Value Estimate Increased 14% to AUD 16.00 Following Good First-Half Result